Agenda - Council - 10/13/2015 - Laserfiche WebLink

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c. Real Estate Tax Increase. Notwithstanding the Base Rent described above, in the event the annual real estate property taxes levied against the Leased Property exceed 50% of the annual Base Rent, the Base Rent shall be increased so that the annual real estate property taxes is never greater than 50% of Base Rent. To effectuate this minimum rent requirement, the monthly Base Rent due on the next succeeding June 1 of the year in which the real estate property tax increase is effective, and each succeeding first day of the month thereafter, shall be increased to equal one 1/12 of the annual real estate property taxes then levied against the Leased Property, greater than 50% of Base Rent. 4. ADDITIONAL RENT: a. Operating Expenses. Tenant shall pay all operating expenses including utilities incurred by Tenant in operating the Leased Property. The term "Operating Expenses" includes but is not limited to the maintenance, repair and operation of utilities and lighting, parking and landscaped areas and signs, as well as snow removal and non-structural repair and maintenance of the exterior of the building, all associated with the premises being rented. Failure to pay operating expenses when due shall constitute a default under this lease. The payment of the sums set forth in this paragraph 4 shall be in addition to the Base Rent payable pursuant to paragraph 3 of this Lease. If Tenant fails to pay the Operating Expenses when due, Landlord may pay same and the same shall be immediately due to Landlord from Tenant together with 10% interest per annum The above is sometimes called the "Additional Rent." b. Tenant shall not be responsible for the payment of any real estate taxes. Real estate taxes shall be the sole responsibility of Landlord, except as required in paragraph 3. 5. COVENANTS TO PAY RENT: The covenants of Tenant to pay the Base Rent and the Additional Rent are each independent of any other covenant, condition, provision or agreement contained in this Lease. All rents are payable to Landlord at Ramsey Municipal Center, 7550 Sunwood Drive NW, Ramsey, Minnesota, or such other place as Landlord may designate. 6. UTILITIES: Tenant shall provide mains and conduits to supply electricity to the Leased Property. Tenant shall pay, when due, all charges for garbage disposal, refuse removal, electricity, telephone and/or other utility services or energy source furnished to the Leased Property during the term of this Lease, or any renewal or extension thereof. In addition, Tenant shall be responsible to pay the City of Ramsey's quarterly storm water utility charge. If Landlord elects to furnish any of the foregoing utility services or other services furnished to Tenant, then the rate charged by Landlord shall not exceed the rate Tenant would be required to pay to a utility company or service company furnishing any of the foregoing utilities or services. The charges thereof shall be deemed Additional Rent in accordance with paragraph 4. Tenant shall not be entitled to any abatement or reduction of Base Rent by reason of Landlord's failure to furnish any of the foregoing utilities when such failure is caused by accident, breakage, repairs (including 2